FSA: Financial education is not our responsibility

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The FSA has refuted claims it is failing to fulfil statutory obligations to provide consumer financial education.

Simon Goldthorpe, director of Beaufort Asset Management, said part of the FSA's statutory objectives to promote market confidence and financial stability can be met by providing positive information for consumers. "Most of the education that flows from the FSA is negative, dealing only with widespread complaints, class actions and wealth warnings," said Goldthorpe. "This needs to be counterbalanced by simpler messages about the benefits of saving and general tips on how to create financial security. "Without this balance the negative outpourings result in the savings and investment...

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